About this survey

Executive Summary
For many businesses, the economic outlook has been increasingly uncertain. While economic growth has been almost flat in recent quarters, inflation sits stubbornly above the RBA’s target band, dampening expectations for interest rate cuts in the near term. The latest rebound in inflation has even seen the RBA reiterate its cautious stance – not ruling any monetary policy direction in or out.

Amid a challenging economic environment, business confidence has continued to weaken this quarter. The cost of doing business remains the key barrier to business success. Nevertheless, businesses in NSW have shown signs of resilience. When asked to rate their own business prospects for this financial year, most businesses appear to have a neutral outlook. A majority of businesses also intend to maintain the same staff headcount or hire new staff.

The latest Business Conditions Survey was conducted from 28 July to 12 August, with a total of 825 responses covering all key industries and regions in NSW